India's Bharti Infratel Q1 profit falls

1 Min Read

July 25 (Reuters) - Indian telecom tower company Bharti Infratel Ltd’s first-quarter profit fell 3.9 percent, hurt by higher expenses and exits from co-location sites where a tower is used by more than one wireless carrier.

Profit fell to 6.38 billion rupees ($92.82 million) for the quarter ended June 30, from 6.64 billion rupees a year earlier, the company said here

Analysts on average expected the company to post a profit of 6.01 billion rupees, according to Thomson Reuters I/B/E/S.

Consolidation in the industry led to co-location exits of 26,743 in the last 12 months.